Koninklijke Philips (PHG)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Koninklijke Philips ("Philips" or "the Company") (NYSE: PHG). The investigation concerns whether Philips and certain of its officers and/or directors have violated federal securities laws.
On June 14, 2021, Philips issued a voluntary recall of some of its sleep and respiratory care devices due to health concerns. The product recall applies to Philip’s Bi-Level Positive Airway Pressure (Bi-Level PAP) and Continuous Positive Airway Pressure (CPAP) devices as well as its mechanical ventilators, due to the sound reduction foam used in these devices. Philips said that the foam can degenerate and release dangerous elements that if inhaled can cause inflammation, irritation, headaches or even cancer. Following this news, Philips stock dropped 3.98% that same day, thereby damaging investors.
If you are aware of any facts relating to this investigation, or purchased Philips shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.